While companies such as Binance, Coincheck and Bithumb are usually referred to as exchanges, their functions differ from traditional stock exchanges such as the ASX.

Earlier this year, the chair of the Australian Digital Commerce Association (ADCA), Loretta Joseph, told Business Insider that exchanges should be referred to as “digital marketplaces”, given that they aren’t regulated and merely provide a forum for buyers and sellers to exchange crypto independently.

Another way in which crypto exchange companies differ from stock exchanges is that they often provide a vehicle to store users’ cryptocurrency, which is also what makes them a target for hackers.

Going back to 2011, there’s been a total of 56 cyber attacks across currency exchanges and initial coin offerings.

Autonomous Research said there’s been seven crypto exchange hacks so far this year, four of them in Asia.

While the hacks have weighed on market sentiment to some degree, there are also opportunities for companies which provide same crypto storage options.